Thread: tsptalk's Market Talk

Kind of a yawner day. I can't even find a chart worth posting. The yield on the 10-year dipped lower again, possibly breaking below a bear flag, but let's see how the afternoon plays out before calling it a breakdown.

Originally Posted by tsptalk

The yield on the 10-year dipped lower again, possibly breaking below a bear flag, but let's see how the afternoon plays out before calling it a breakdown.

Hong Kong was trading down over 2% last night, dragging our futures down with it, but it ended up bouncing back (Heng Seng closed down just 0.15%) and our futures reversed.

Then there was attack on oil tankers in the Gulf of Oman and that sent oil prices rallying - and the market is responding positively to that as well.

https://www.cnbc.com/2019/06/13/oil-...f-of-oman.html

The S&P 500 futures has already created an outside day after reacting to the Hang Seng market overnight. The S&P 500 cash has not done so yet.

The line has been drawn for the Russell 2000. 1535+ or bust... But then the 200-day EMA comes back into play.

This could be a bull flag forming on the S&P 500, although its slope could be too steep and a little "peaky". That's what happened in May with a similar flag-like formation.

Everything seems to be up to some degree this morning, except for the Transports.




The Russell 2000 small caps ran right up to the 50-day EMA again, where it has been struggling lately. Will investors be brave enough to push this higher BEFORE the FOMC's decision on interest rates Wednesday?

Bull flag breakouts after Trump tweet. Also, 10-year yield broke to new lows (bottom chart) but has since reversed.

Oil prices jumps to highs of the day, up more than 4% after Trump says Iran made a ‘very big mistake’

https://www.cnbc.com/2019/06/20/oil-...-in-focus.html